Kaufman Rossin Wealth LLC Purchases Shares of 16,670 Lyft, Inc. $LYFT

Key Points

• Kaufman Rossin Wealth LLC purchased a new position in Lyft, acquiring 16,670 shares valued at approximately $198,000 during the 1st quarter.
• Lyft's stock has recently faced mixed reviews, with analysts setting various price targets, including a $20.00 target from Goldman Sachs after upgrading the stock from "neutral" to "buy."
• Lyft reported earnings of $0.10 per share for the recent quarter, which missed analysts’ expectations and indicated a 10.6% year-over-year revenue increase, totaling $1.59 billion.

Kaufman Rossin Wealth LLC purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,670 shares of the ride-sharing company's stock, valued at approximately $198,000.

A number of other hedge funds also recently modified their holdings of LYFT. Spurstone Advisory Services LLC acquired a new position in shares of Lyft during the fourth quarter worth $25,000. GAMMA Investing LLC boosted its stake in shares of Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after purchasing an additional 1,237 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Lyft during the 1st quarter worth approximately $35,000. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Lyft during the 1st quarter worth approximately $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Lyft during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Susquehanna reduced their price objective on shares of Lyft from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, August 11th. The Goldman Sachs Group upgraded Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Friday, May 9th. Tigress Financial reissued a "buy" rating and issued a $28.00 price objective (up from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. TD Cowen raised Lyft from a "hold" rating to a "buy" rating and increased their price objective for the stock from $16.00 to $21.00 in a research note on Tuesday, June 24th. Finally, Sanford C. Bernstein increased their price objective on Lyft from $16.00 to $18.00 and gave the stock a "market perform" rating in a research note on Monday, July 21st. Nine analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $16.83.

Lyft Stock Performance

LYFT traded up $1.20 during midday trading on Friday, reaching $17.01. The company had a trading volume of 24,096,065 shares, compared to its average volume of 21,740,586. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $6.91 billion, a PE ratio of 70.88, a P/E/G ratio of 2.77 and a beta of 2.26. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $19.07. The business has a 50-day moving average price of $15.00 and a two-hundred day moving average price of $13.85.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the business earned $0.24 EPS. Lyft's revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 28,356 shares of Lyft stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the transaction, the insider owned 850,388 shares of the company's stock, valued at $13,478,649.80. The trade was a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total value of $228,600.00. Following the transaction, the chief financial officer directly owned 540,759 shares of the company's stock, valued at $8,241,167.16. The trade was a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,928 shares of company stock worth $703,839 over the last quarter. 3.07% of the stock is owned by corporate insiders.

About Lyft

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.